Pulsify Medical Company Profile

Background

Company Overview

Pulsify Medical, established in 2019, is a digital medical technology company specializing in the development of wearable ultrasound patches for real-time monitoring of vital organs, with a primary focus on cardiac health.

Mission and Vision

The company's mission is to address the significant unmet need for continuous, accurate, and non-invasive cardiac monitoring, both in intensive care units (ICUs) and beyond. By leveraging cutting-edge technology, Pulsify Medical aims to transform cardiac healthcare through real-time remote ultrasound monitoring, enhancing patient outcomes and reducing hospital stays.

Industry Significance

Cardiovascular diseases are the leading cause of death globally. Continuous cardiac monitoring and early detection of anomalies can save lives and improve health outcomes. Pulsify Medical's innovative approach offers a practical, affordable, and non-invasive solution to this pressing healthcare challenge.

Key Strategic Focus

Core Objectives

Pulsify Medical is dedicated to developing smart, non-invasive, and wireless devices for accurate, continuous monitoring of vital body functions. The primary objective is to create a wearable ultrasound patch that provides continuous cardiac performance monitoring, offering peace of mind for both patients and physicians.

Areas of Specialization

The company specializes in:

• Wearable Ultrasound Technology: Developing flexible ultrasound patches that can be worn on the chest for extended periods, adapting to each patient’s unique needs.

• Cardiac Monitoring: Focusing on continuous and precise monitoring of cardiac performance, crucial for patients with cardiovascular diseases and other critical health issues.

Key Technologies Utilized

• Flexible Ultrasound Transducer Technology: Utilizing imec’s unique flexible ultrasound transducer technology to develop the wearable patch.

• Advanced Imaging Algorithms: Incorporating KU Leuven’s expertise in cardiac ultrasound imaging algorithms to process and interpret the data collected by the patch.

Primary Markets Targeted

• Intensive Care Units (ICUs): Providing continuous cardiac monitoring solutions for critically ill patients.

• Hospital Wards: Extending monitoring capabilities to general hospital settings.

• Home Care: Enabling patients to monitor their cardiac health in a home environment, facilitating early detection and intervention.

Financials and Funding

Funding History

• Seed Funding (2019): Pulsify Medical closed its initial seed funding round, raising €2.6 million. The investment was led by imec.xpand and KU Leuven, with participation from University Hospitals Leuven.

• Series A Funding (2021): The company completed a second closing of its Series A funding round, securing an additional €3.75 million in equity and a €1.65 million non-dilutive grant from the Flanders Innovation and Entrepreneurship Administration (VLAIO). This brought the total Series A funding to €6.35 million. Investors included PMV, the Gemma Frisius Fund, and imec.

Utilization of Capital

The funds raised are intended to:

• Advance the development of the wearable ultrasound patch.

• Optimize algorithms for analyzing monitoring data.

• Design the patch to accommodate patient mobility while ensuring accurate monitoring.

• Facilitate clinical validation and regulatory approvals.

Pipeline Development

Key Pipeline Candidates

• Wearable Ultrasound Patch: A flexible, non-invasive device designed for continuous cardiac performance monitoring.

Stages of Development

• Research and Development: Ongoing efforts to refine the technology and ensure its efficacy and safety.

• Clinical Validation: Plans to conduct clinical trials to validate the device's performance in real-world settings.

Target Conditions

• Cardiovascular Diseases: Monitoring patients with heart failure and other cardiovascular conditions.

• Critical Care Monitoring: Providing continuous monitoring for patients in ICUs and hospital wards.

Anticipated Milestones

• Prototype Development: Completion of functional prototypes for testing.

• Clinical Trials: Initiation of clinical trials to assess device performance.

• Regulatory Approvals: Submission for regulatory approvals to bring the product to market.

Technological Platform and Innovation

Proprietary Technologies

• Flexible Ultrasound Transducer Technology: Developed in collaboration with imec, this technology enables the creation of flexible, wearable ultrasound devices.

Significant Scientific Methods

• Advanced Imaging Algorithms: Utilizing KU Leuven’s expertise to develop algorithms that process ultrasound data and provide accurate cardiac performance metrics.

Leadership Team

Executive Profiles

• Iwan van Vijfeijken: CEO with over 25 years of experience in MedTech and Life Sciences, leading several medical device companies, including start-ups.

• Steve Stoffels: VP of Technology with over 15 years of experience in researching and developing cutting-edge micro-technologies, specializing in micro-mechanics and semiconductors.

• Chris Japp: Independent Chairman of the Board, a 30-year veteran of the medical device industry, having held senior leadership roles at companies such as GE, Boston Scientific, Pentax Medical, and Hitachi Medical.

Advisors

• Dr. Xavier Rottenberg: Co-founder and Technical Advisor from imec, specializing in wave-based sensors and actuators.

• Dr. Lieven Herbots: Co-founder and Medical Advisor from Jessa Hospital, an experienced cardiologist and member of EU and Belgian workgroups on echography and non-invasive cardiac imaging.

• Prof. Jan D’Hooge: Co-founder and Board Member from UZ Leuven, a full-time professor specializing in myocardial tissue characterization and cardiac pathophysiology.

Competitor Profile

Market Insights and Dynamics

The global market for cardiac monitoring devices is experiencing significant growth, driven by the increasing prevalence of cardiovascular diseases and the demand for non-invasive monitoring solutions. The integration of advanced technologies, such as wearable devices and real-time data analytics, is transforming patient care and enabling proactive health management.

Competitor Analysis

• VivaLnk: Founded in 2014, VivaLnk develops wearable medical devices for continuous health monitoring, including multi-vital ECG monitors.

• VitalConnect: Established in 2011, VitalConnect offers wearable biosensor technology for real-time patient monitoring, focusing on cardiac health.

• Gentag: Founded in 2001, Gentag specializes in developing wearable sensor technology for health monitoring applications.